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Markets Rebound as U.S. Ceasefire Proposal to Iran Sparks Investor Optimism

  U.S. stock futures surged early Wednesday as reports of a U.S.-backed ceasefire proposal to Iran boosted market sentiment and pushed oil prices sharply lower. Investors reacted positively to signs of potential de‑escalation in the Middle East, lifting Dow, S&P 500, and Nasdaq futures after a volatile week. U.S. stock futures climbed on Wednesday following reports that Washington sent Iran a 15‑point ceasefire plan aimed at halting the ongoing conflict in the Middle East. The development injected cautious optimism into global markets, which have been rattled by geopolitical tensions in recent weeks.  Futures tied to the Dow Jones Industrial Average and S&P 500 rose around 1% , while Nasdaq 100 futures jumped more than 1% , reversing some of the previous session’s losses. The shift in sentiment was amplified by a sharp retreat in oil prices— WTI crude fell over 5% , easing inflation concerns and improving the outlook for corporate margins.  The reported ceasef...
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Maximizing Your Tax Return: Uncover Hidden Deductions for 2024

 

Getting the most out of your tax return can feel like an early spring bonus. Whether you’re a seasoned taxpayer or a newcomer, there are lesser-known deductions that could significantly impact your bottom line. 

While the Canada Revenue Agency (CRA) has made filing expenses for people who work from home more complicated this year, there are still plenty of tax-deductible expenses that Canadians might be missing out on:

  • Children’s Summer Camps: Yes, you can claim credits for those enriching summer experiences.
  • Investment Expenses: If you have non-registered investment accounts, don’t overlook these costs.
  • Alimony Payments: If you’re making alimony payments, they may be deductible.
  • Moving Costs: Certain circumstances allow you to claim moving expenses.
  • Canadian employment amount: You can get credit for uniforms, work supplies, and more, up to $1,368 per year. Plus, if you subscribe to a Canadian news source, you can write off the cost of your subscription. 
  • Charitable donations: offer excellent tax benefits, especially for high-income earners. 
  • Contributing to your Registered Retirement Savings Plan (RRSP): is a powerful way to boost your refund and save for retirement. Here’s the magic number: aim for 18% of your income, up to the maximum of $30,780. Be strategic about how much you contribute to retirement savings accounts and charities—this could be the difference between owing the government money or getting a refund.

Remember, every dollar saved through deductions and credits adds up. So, dive into the lesser-known deductions, make smart RRSP contributions, and unlock hidden tax benefits. 

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